Will High Util on 2 cards get AA?

[Anonymous]

I have approximately 6000$ in credit card debt spread across 4 cards (all on 0% promos)  that i will be able to pay off by May next year without occuring any interest charges. I plan to make 400$ monthy towards them. This amount does not include any excess charges i make a month. Technically, I'm throwing around 700-800$ towards them monthly.

Since I plan on snowballing this debt, i will run high util on 2 cards, BBR and Cash Rewards, for at least 6 months on one and probably around a year on the other until I can really pay it down.

Discover (0% APR till July) - 439$/4500

Bank of America Platinum MC - $1583.81/3200 (0% promo on 553.81 till next month, 0% Promo on the remaining balance till December)

BOA BBR - $1737/2000 (0% on $707 till February 2018, 0% on the remaining balance, $1030 till May 2018)

BOA Cash Rewards - $1607/2000

QS1 - 412$/6500. This card is paid in full though so dont really factor this in

If the high util on those 2 cards will be risky, i can pay off the discover card and use one of the BT offers i have, 0% for 12 months with 3% fee or 4.99% for 18 months with no fee. By doing that, i could effectivelely lower the utilization on those 2 cards to 50% and below. In addition, I would still be able to pay off the $553.81 for the platinum card by ,moving that balance over as well.

What route should i take? my BBR card is in the SD now while i only plan to use the Cash Rewards card for gas purchases only.

[AverageJoesCredit]

I dont think you should have any problems especially as you will be making big payments. However the only thing i might question is that the majority of the debt is on your Boa cards and since the limits arent super high thats three of there cards almosr maxed out. I dont have too much experience with Boa as im in my first year but im currently over 50% on my BBR (basically put all my cc debt here as itll be easier trying to pay down 1 card) working like 3 bts at 0% promos and so far no problems whatsoever. Fico may not like the high percentage but im ok as eventually as the balance goes down, the score will rise.id try to lower the percentage used on some of the Boa if possible but if not just keep making your payments

[sillykitty1]

It is completely dependent on your overall credit.  If you have other factors that look risky, short AAOA, derogs, etc., then some more conservative lenders might take an AA.  But if your profile is strong and stable, then high utility on a couple of cards shouldn't be an issue.

IME, I've used BT, and just had natural high utilization on several cards, but kept my overall util low, and had no issue at all.  But my profile is strong, and scores are usually just under 800.

[DeeBee78]

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@Anonymous wrote:

I have approximately 6000$ in credit card debt spread across 4 cards (all on 0% promos)  that i will be able to pay off by May next year without occuring any interest charges. I plan to make 400$ monthy towards them. This amount does not include any excess charges i make a month. Technically, I'm throwing around 700-800$ towards them monthly.

Since I plan on snowballing this debt, i will run high util on 2 cards, BBR and Cash Rewards, for at least 6 months on one and probably around a year on the other until I can really pay it down.

Discover (0% APR till July) - 439$/4500

Bank of America Platinum MC - $1583.81/3200 (0% promo on 553.81 till next month, 0% Promo on the remaining balance till December)

BOA BBR - $1737/2000 (0% on $707 till February 2018, 0% on the remaining balance, $1030 till May 2018)

BOA Cash Rewards - $1607/2000

QS1 - 412$/6500. This card is paid in full though so dont really factor this in

If the high util on those 2 cards will be risky, i can pay off the discover card and use one of the BT offers i have, 0% for 12 months with 3% fee or 4.99% for 18 months with no fee. By doing that, i could effectivelely lower the utilization on those 2 cards to 50% and below. In addition, I would still be able to pay off the $553.81 for the platinum card by ,moving that balance over as well.

What route should i take? my BBR card is in the SD now while i only plan to use the Cash Rewards card for gas purchases only.

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I don't think you have much to worry about. Barclays and Amex are two lenders who can get easily spooked base s on your behaviors with other lenders, and you don't have either. 

FWIW, I carried a 90% utilization balance on my BBR for several months last summer, when the limit was only $2,300. They didn't care at all, and I even got a decent CLI to $6,300 earlier this year. 

[Anonymous]

Thank you all for the replies! Much appreciated!

I think i will just continue what im doing, Paying the minimum on BBR, Cash Rewards and Discover while throwing the bulk of that 400$ towards the platinum BOA.

The BOA platinum will be paid off by next month, while ill have the discover paid off by June. Then i will go back to paying the bulk of the 400$ towards the platinum which would be completely paid off by september.

Finally, I would be able to pay down the Cash Rewards and BBR cards to lower the Utilization. I dont plan on apping for any cards till next year. By then, most of my cards would be paid off. If all goes well, I should be CC debt free by May 2018!

[SouthJamaica]

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@Anonymous wrote:

I have approximately 6000$ in credit card debt spread across 4 cards (all on 0% promos)  that i will be able to pay off by May next year without occuring any interest charges. I plan to make 400$ monthy towards them. This amount does not include any excess charges i make a month. Technically, I'm throwing around 700-800$ towards them monthly.

Since I plan on snowballing this debt, i will run high util on 2 cards, BBR and Cash Rewards, for at least 6 months on one and probably around a year on the other until I can really pay it down.

Discover (0% APR till July) - 439$/4500

Bank of America Platinum MC - $1583.81/3200 (0% promo on 553.81 till next month, 0% Promo on the remaining balance till December)

BOA BBR - $1737/2000 (0% on $707 till February 2018, 0% on the remaining balance, $1030 till May 2018)

BOA Cash Rewards - $1607/2000

QS1 - 412$/6500. This card is paid in full though so dont really factor this in

If the high util on those 2 cards will be risky, i can pay off the discover card and use one of the BT offers i have, 0% for 12 months with 3% fee or 4.99% for 18 months with no fee. By doing that, i could effectivelely lower the utilization on those 2 cards to 50% and below. In addition, I would still be able to pay off the $553.81 for the platinum card by ,moving that balance over as well.

What route should i take? my BBR card is in the SD now while i only plan to use the Cash Rewards card for gas purchases only.

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IMHO you should get the utilization down on both. AA has a way of 'snowballing' too.

[Anonymous]

Adverse action is written into the programming and they go by patterns. It would be really rotten to cut legs out from under people during their intro periods. Many like to do it months afterwards even after you have paid things off. Other members can chime in on who is more picky about letting a balance stay way up there, but imho Capital One and Bank of America usually do not AA As Long As You Are making everything on time and just a slow pay

[DeeBee78]

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@Anonymous wrote:

Thank you all for the replies! Much appreciated!

I think i will just continue what im doing, Paying the minimum on BBR, Cash Rewards and Discover while throwing the bulk of that 400$ towards the platinum BOA.

The BOA platinum will be paid off by next month, while ill have the discover paid off by June. Then i will go back to paying the bulk of the 400$ towards the platinum which would be completely paid off by september.

Finally, I would be able to pay down the Cash Rewards and BBR cards to lower the Utilization. I dont plan on apping for any cards till next year. By then, most of my cards would be paid off. If all goes well, I should be CC debt free by May 2018!

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You need to pay more than the minimum due on your BBR to get your cash reward. Even if it's just $1 more, pay it.

[Anonymous]

Yea I know im paying 26$ on that a month (min is 25$). So I should be good with that

[Anonymous]

So does anyone think BOA will penalize me for making min or near min payments on the 2 high util cards  for 6+ months? Even though both cards are on 0% promos till February 2018.